#Ethereum ETH:

Optimism among Ethereum whales

Ethereum whales have shown optimism by buying 470,000 ETH last week despite the drop in its value in March.

Cryptocurrency analyst Alí Martínez has noted on X that Ethereum whales are showing optimism by having purchased 470,000 ETH last week despite the drop in its value in March.

Data from Santiment shared by Martínez indicates that Ethereum wallets with holdings between 10,000 and 100,000 ETH purchased a total of 470,000 ETH in seven days.

The increase occurred while the token maintained its price between $1,850 and $2,150.

The increase in whale purchases could be a signal of a market shift in the long term.

Martínez has also pointed out the formation of an Adam and Eve pattern in the ETH/BTC chart. This pattern could be a signal of a momentum in its value if completed. Currently, the ratio is at 0.0235 BTC and if it manages to break it, it could push up to 0.0019 BTC.

This breakout has historically directed Bitcoin capital to Ethereum.

For further optimism, data from Token Terminal has indicated that BUILD, the fund managed by BlackRock, has surpassed $1 billion, making it one of the largest investors.

This could reinforce the signal that investors might view Ethereum with optimism in the long term.

The 70 and 200 period moving averages, RSI declining at 46 points, and the MACD lines below the zero level.

Medium and long-term support is at $1,753. Meanwhile, the Ei indicators are mixed.